How to Get a Same-Day Personal Loan

Introduction

Also known as a "payday loan" or a "payday advance," a same-day personal loan is often used as a short-term fix for times when unanticipated expenses leave you short until your next paycheck. They are generally available through payday loan companies and a wide variety of online lenders.

Instructions

Difficulty: Moderate

Get a Same-Day Personal Loan

Things You'll Need

• Proof of employment
• Earnings statement (pay stub, monthly invoice, etc.)

Steps

1

Step One

Find local payday loan companies in your community. Call each of them, asking if they offer same-day loan services. You should also inquire about their interest rates, repayment terms and any other fees or penalties that may apply.

2

Step Two

Ask the lender what kind of documentation they need from you in order to process your loan application. Generally, you will need a minimum of photo identification and a paycheck stub or income invoice to prove that you have a regular job and that you are who you say you are.

3

Step Three

Request only the bare minimum amount of money you'll need to cover your basic expenses. A same-day personal loan is charged at astronomical annual interest rates, and the more money you borrow, the more money the loan will cost you.

4

Step Four

Read the fine print on the application. If you're unsure about any of the terms, ask for clarification. Avoid dealing with any lenders whose terms give them the ability to access your bank account and seize your funds.

5

Step Five

Investigate your online options. A same-day personal loan will generally be for a relatively small amount of money, with a maximum of a couple thousand dollars, depending on the lender. Some online lenders who offer same-day loans of modest amounts of money may deposit the funds directly into your bank account after you application has been approved.

6

Step Six

Pay the money back as quickly as possible. If you need to get another same-day personal loan in the future, deal with the same lender. You might get a break on terms, or access to a larger loan amount. However, it is recommended that you avoid getting same-day personal loans unless they're absolutely necessary.

How to Get a Reasonable Rate for a Family Loan

Introduction

You want to get a bank loan so that you can take your family on a much-needed vacation, but you want to get a reasonable rate. After all, vacations are expensive enough without being charged an exorbitant interest rate on top of it. Here's how to go about getting a reasonable rate for a family loan.

Instructions

Difficulty: Moderate

Steps

1

Step One

Know your credit score. Finding a reasonable loan rate is a function of your credit score. If you know in advance that your credit score is not good, it is best to do what you can to increase your credit score before applying for a loan.

2

Step Two

Use your own bank. If you've established a relationship with your bank, your chances of getting a better rate are better than from a bank you do not have a relationship with. Many banks offer rate discounts if you have more than one account with them.

3

Step Three

Offer collateral or security. If you use your home as collateral, you will get a lower interest rate. Your loan will not be as much of a risk for a bank if they have something they can use as collateral.

4

Step Four

Shop around. Before you sign on the dotted line, be sure to shop around. Keep in mind, however, that if you are going to shop around, your window of opportunity is limited. You do not want several banks pulling your credit rating over a prolonged period of time. It will only cause your credit score to drop.

How to Get a Personal Student Loan

Introduction

Financing your education can be just as tricky as getting accepted into college. Fortunately, there are scores of lenders out there who have the cash you need to pay for school. If you need to get a personal loan to cover tuition, books and living expenses, you'll need to spend some time considering your many options.

Instructions

Difficulty: Moderate

Get a Personal Student Loan

Things You'll Need

• Proof of college admission
• Cosigner (may be needed)

Steps

1

Step One

Draw up a budget. Counting your own personal savings, contributions from your parents and federal and state loans, determine how much you'll need to borrow elsewhere each academic year.

2

Step Two

Have your parents approach the financial institution where they bank to see what kind of student loan programs are offered. Unless you're a self-sufficient adult with a good credit history who is returning to school relatively late in life, you'll need a cosigner. Your cosigner is more likely to get good loan terms from a bank he's been dealing with for years.

3

Step Three

Check online for loans specifically designed for students. Many lenders who specialize in student loans offer very competitive packages, some of which may not charge much more than a point or two above the prime interest rate.

4

Step Four

Do a close comparison of the loan terms. Frequently, student loans do not come due for repayment until you have been out of school for a specified period, usually 6 months. However, just because you don't have to make payments until 6 months after your course of study has ended, interest accrues on your loan from the first year you borrowed money.

5

Step Five

Have your school complete any enrollment verifications you need in order to get your loan processed. If this is necessary, it will usually require a trip to your college's office of admissions or to your academic coordinator or supervisor's office.

6

Step Six

Plan your academic year's finances around your loan disbursements. Students often receive part of their annual loans at the beginning of the school year and the rest at a later date. Don't get stuck short of cash because you didn't get your loan disbursement dates right.

How to Get a Personal Payday Loan

Introduction

To make ends meet during those times when you're left short until your next payday, you can get a personal loan from one of the many lenders in your city or online. They generally offer small loans--usually $1,000 or less--at relatively high interest, which will come due on your next payday.

Instructions

Difficulty: Moderately Easy

Get a Personal Payday Loan

Things You'll Need

• Checking or savings account (needed for online loans)
• Personal identification and proof of address (needed for in-person payday loans)
• Earnings statement
• Proof of employment

Steps

1

Step One

Find a lender. Businesses that cash checks without holds and charge a commission for the service usually offer payday loans. Call the various lenders in your city, comparing interest rates, fees and any penalties that apply to defaults or late payments.

2

Step Two

Head online to broaden your options. Dozens and dozens of payday loan companies have set up shop on the Internet, featuring fast approval and quick, direct deposits into your regular checking or savings account. However, it's a good practice not to be in a rush when selecting a payday loan company, as you're advised to check them out with the Better Business Bureau or your Attorney General's office before borrowing money from them.

3

Step Three

Gather the information you need to apply for the loan. Some online lenders may require you to fax in a copy of your pay stubs or earnings statements, while others may not (and will charge a higher interest rate for the convenience). Virtually any lender you'll deal with in person will want photo identification and proof of address, in addition to a pay stub.

4

Step Four

Undergo the requisite credit check when you apply for a payday loan. There might be an additional fee to cover the cost of this check, which will most likely be applied to the total loan amount.

5

Step Five

Make sure you understand the repayment terms. Generally, you are expected to repay the full amount of the loan, plus interest, on your next payday. To avoid any penalties as the result of miscommunication or misunderstandings, read the fine print on any loan agreement you sign.

6

Step Six

Repay the loan in its entirety when you receive your next paycheck. Should you ever need to get another payday personal loan, it is a good idea to deal with a company where you've already paid one back without incident. You might be able to get a lower interest rate or a higher loan amount the next time.

How to Get a Personal Injury Loan

Introduction

A personal injury loan is a type of cash advance specifically designed for individuals who have suffered significant injury as the result of the negligent actions of another, but cannot afford to pay lawyer fees to initiate legal action.

Instructions

Difficulty: Moderately Challenging

Get a Personal Injury Loan

Things You'll Need

• Clean criminal background (may be needed)
• Current personal injury claim, lawsuit or legal action
• Legal representation
• Good credit (may be needed)

Steps

1

Step One

File your personal injury claim.

2

Step Two

Get a lawyer who will agree to represent you in court. Have him put his willingness to argue your case in writing, as you'll need to present it to the lender.

3

Step Three

Find a lender who specializes in providing lawsuit cash advances, particularly for personal injury cases. You may need to do significant research online to find an appropriate lender, as most banks and credit unions do not offer this type of loan.

4

Step Four

Search for a lender who won't require you to start paying back the loan until your case is settled. Some lenders, but not all, offer these repayment terms.

5

Step Five

Keep in mind that there are personal injury loans available that won't require you to pay back the money if you don't win the court case. Again, not all lenders offer these terms. Seek out those who do.

6

Step Six

Contact the lenders you've identified as good candidates. Find out the specifics of what is involved with their application processes. Generally, the minimum you'll need to qualify for a loan application is a clean criminal background and a current personal injury claim.

7

Step Seven

Apply for the loan, keeping in mind that the lender may need to contact your attorney for the particulars of your personal injury case. You may need to authorize the sharing of this information. The lender will assess your application based in part on how likely you are to win your lawsuit.

8

Step Eight

Expect a credit check to be required as part of the process. A poor credit history may be grounds for the rejection of your application.

9

Step Nine

Arrange for the loan money to go directly from the lender to your attorney. You can get ongoing financial assistance with some personal injury loan programs, as lawsuits and court cases frequently stretch out over long periods of time. Work with a lender who will provide ongoing assistance if it becomes needed.

How to Get a Personal Bank Loan

Introduction

A personal bank loan generally takes one of two forms: unsecured and secured. An unsecured personal bank loan is given without collateral at a higher interest rate, and a secured bank loan uses collateral to get better repayment terms, lowered fees and a more advantageous interest rate.

Instructions

Difficulty: Moderate

Borrow Money Through a Personal Bank Loan

Things You'll Need

• Good credit
• Loan application
• Supporting documentation, such as proof of monthly income
• Collateral (needed for a secured loan)

Steps

1

Step One

Assess your current financial situation by listing your assets, detailing your monthly income and deducting any liabilities, debts or expenses.

2

Step Two

Ask your employer for a letter confirming your monthly income and job security, and back it up with pay stubs or, if your salary is deposited directly into your bank account, invoice statements.

3

Step Three

Do some shopping. You may or may not qualify to get a personal loan through your regular bank. If you don't, there are dozens of lenders out there who specialize in personal loans.

4

Step Four

Compare not only interest rates, but also repayment terms. Find out if your monthly loan payment is fixed or variable, and opt for a fixed term whenever possible. Ask about any up-front fees, and make sure you know whether the loan is disbursed all at once or in installments.

5

Step Five

Offer collateral to get a lower interest rate. Even if you have excellent credit, an unsecured personal loan will always come at a higher interest rate than a secured one.

6

Step Six

Complete all application materials in full, including supporting documentation listing your assets, liabilities and income.

7

Step Seven

Check over the loan documents once they're prepared. The terms you and the lender agreed to should be represented honestly and in good faith in the loan documents. You can sign off on the loan if all items appear as discussed with the lender.

8

Step Eight

Repay the loan according to the terms outlined in your agreement. If you default, you risk losing the collateral you offered up to secure your loan. If you have an unsecured loan, failure to make payments will have a profoundly negative impact on your credit rating.

How to Get a Payday Loan

Introduction

A payday loan can help you make ends meet until your next paycheck. The interest rates can be high, but that may be a small fee to pay compared to falling behind on your car payment or not having grocery money when you need it. Here is how to get a payday loan.

Instructions

Difficulty: Moderately Easy

Steps

1

Step One

Locate a payday loan location in the yellow pages. Call ahead to see what items you need to take to that particular business.

2

Step Two

Bring picture identification, a recent check stub, a recent bank statement, a blank check and a utility bill in your name. Items vary with different payday loan businesses, but these are the general qualifications needed.

3

Step Three

Tell the clerk the amount of money you need. Show them your identification, check stub and other documents.

4

Step Four

Write a check for the amount of the loan plus the fee. Postdate the check for the date you wish to repay the loan. The clerk will let you know what the fee is and give you written proof of the amount.

5

Step Five

Sign any legal documents or papers authorizing the cashing of your check and acknowledgment of your agreement.

6

Step Six

Take the cash that the clerk gives you. This is your money until it is time to pay back the loan.

Tips & Warnings

• Don't borrow too much money. Borrowing more than you can pay back will cause your fees to go up or leave a bad mark on your credit.

How to Get a No-Credit-Check Personal Loan

Introduction

A no-credit-check personal loan may be a good solution for individuals looking to pull themselves out of debt. This is a type of loan in which the lender does not investigate the borrower's credit history before agreeing to the loan terms. Many people use no-credit-check personal loans to get out of credit card or other short-term debt, in effect consolidating debts owed to various creditors.

Instructions

Difficulty: Moderate

Get a No-Credit-Check Personal Loan

Things You'll Need

• Loan cosigner (may be needed)

Steps

1

Step One

Use a no-credit-check personal loan only if you're faced with a short-term financial emergency you have no other means of meeting. For example, if your vehicle needs repairs you can't afford and your car is your only means of getting to work, consider a no-credit-check personal loan. If you just want something like a new bedroom set, getting a no-credit-check loan probably isn't the best idea.

2

Step Two

Navigate the dozens and dozens of online lenders who loan money to people on a no-credit-check basis by comparing not just interest rates but also repayment terms. Get familiar with the term "APR," which stands for "annual percentage rate." This is the amount of interest your loan will accrue each year for each $100 borrowed--the lower the APR, the better.

3

Step Three

Expect that a no-credit-check loan will come at a significantly higher interest rate than a regular bank loan. Because you're not required to pass a credit check or offer collateral, a no-credit-check personal loan is frequently used by lower-income individuals to cover financial emergencies. Since the borrowing terms are so flexible, the lender covers their investment in the borrower through inflated interest.

4

Step Four

Watch for lenders who slap huge late fees on missed or tardy payments. This is a common strategy lenders take with no-credit-check personal loans. You may also be asked to bring a cosigner in to cover you if you default on the loan.

5

Step Five

Consider the terms being offered by the various lenders. You want to choose the lender offering the best combination of an affordable interest rate and flexible repayment terms.

6

Step Six

Keep your loan term as short as you possibly can. Personal finance experts recommend that you avoid borrowing on a no-credit-check basis for loan periods exceeding 5 years.

7

Step Seven

Contact your lender without delay if you are facing any problems in your loan repayments. If you work with the lender, they might even assist your situation by lowering your monthly payments until you can get back on your feet.

How to Get a Military Personal Loan

Introduction

Lenders who specialize in loaning money to active or retired service personnel present a lower-cost alternative to regular banks. Most military lenders will also allow you to borrow money from locations worldwide by approving your application on the Internet.

Instructions

Difficulty: Moderate

Get a Military Personal Loan

Things You'll Need

• Good credit
• Active or retired military service record

Steps

1

Step One

Prove you served in the military if you're retired from active duty. Even if you've gone on to a professional career following your military service, you can still qualify to get a military personal loan. Both military personnel and U.S. Coast Guard service people qualify for military loans.

2

Step Two

Head online to find companies that specialize in military personal loans. There are many, and you should be prepared to spend some time comparing interest rates and loan terms. If you're still in active duty, your branch of the armed forces may have other, more direct loan options available to you.

3

Step Three

Get your most recent Leave and Earnings Statement (LES) ready, and have your military ID number on hand when you sit down to fill out your military personal loan application.

4

Step Four

Remember that the various loan companies outline their own qualification standards. Some require you to have a 20-year service record if you're no longer in active duty, while others allow you to qualify if you've spent any time at all in the military, so long as you received an honorable discharge.

5

Step Five

Identify the amount of money you need to borrow. Most military loan lenders will lend a maximum of about $10,000 to first-time borrowers, though specifics will vary from lender to lender.

6

Step Six

Apply online with the lender of your choice. Ideally, you should choose a lender who does not impose harsh penalties on late or missed payments or exorbitant fees on top of the loan principal and interest.

7

Step Seven

Remember that some military personal loan companies will allow you to cancel your loan application within a specified period, usually 15 days, at no additional cost. If you have any reason to suspect you may need to take advantage of a term like this, seek out a lender that includes such an offer.

How to Get a Low-Interest Personal Loan

Introduction

A low-interest personal loan is a type of collateral-free loan that the lender extends to the borrower at a lower interest rate than a standard personal loan. However, because of their lower interest rates, these loans generally will not exceed a few thousand dollars in value, except under very rare circumstances.

Instructions

Difficulty: Moderate

Apply For a Low-Interest Personal Loan

Things You'll Need

• Good credit
• Supporting documentation (of secure income)

Steps

1

Step One

Check your credit score. If it isn't perfect or near perfect, the chances that you'll get a low-interest personal loan are slim. The lenders that do offer low-interest personal loans are very discriminating about who they permit to borrow them as these loans are in high demand.

2

Step Two

Deal with a financial institution where you have a pre-existing business relationship. If you've been a customer at the same bank or credit union for years, have excellent credit and can prove a reliable, steady income stream, make an appointment with a loan officer to discuss a low-interest personal loan.

3

Step Three

Understand what a lender looks for in a low-interest personal loan candidate. In addition to outstanding credit, banks and credit unions prefer borrowers who have held their present jobs for a lengthy period of time, are in full and clear possession of valuable assets and boast a secure sources of income. You'll have to provide documentation to the lending institution to back up all of these claims.

4

Step Four

Keep in mind that there are no set guidelines as to who qualifies for a low-interest personal loan and who does not. Each institution's lending policy is individually set. In fact, many banks do not even offer low-interest personal loans or unsecured (collateral-free) loans of any kind.

5

Step Five

Apply for the loan if you qualify. If your application is not approved, look at the situation from the position of the lender. An unsecured loan, like a low-interest personal loan, is very difficult to recover if the borrower defaults, and a costly, time-consuming lawsuit is usually the only recourse open to the financial institution.

6

Step Six

Maintain your solid relationship with the lending institution by repaying your low-interest personal loan on time and in full without incident. This will help you greatly if you need to get another low-interest personal loan in the future.

How to Get a Long-Term Personal Loan

Introduction

A long-term personal loan is frequently used by consumers to consolidate debt or as start-up capital for small business ventures. The distinguishing feature of a long-term personal loan is the repayment term, which is generally much longer than what you'll normally get with a regular secured loan.

Instructions

Difficulty: Moderate

Get a Long-Term Personal Loan

Things You'll Need

• Good credit
• Supporting documentation of repayment ability (secure employment, monthly income statement)

Steps

1

Step One

Identify your reason for seeking the loan. You'll be asked by the loan officer when you head to the bank to request the loan, and you'll need to present a compelling case as to why you need the long repayment term on an unsecured loan.

2

Step Two

Ensure that your credit history is good to excellent. The better it is, the better your chances of having your loan application approved. If your credit rating is mediocre, spend some time rebuilding it before you try to get a long-term personal loan.

3

Step Three

Keep in mind that, unlike other loan types, it is not practical to use a long-term personal loan to purchase a big-ticket item, like a new car, which could later be sold off to repay the loan. You'll need to provide the loan officer with supporting documents that show that your employment situation is very stable going forward and that your monthly income is ample enough to support loan repayments when they come due.

4

Step Four

Try to negotiate the interest rate with the loan officer, if your application is pre-approved and you're dealing with a bank you've conducted business with for a long time. Long-term loans are unsecured, meaning the bank does not collect collateral to hold against the loan, so you need to understand that the financial institution is assuming a certain degree of risk in granting the loan--risk they must recover through interest.

5

Step Five

Review all terms of the loan before you agree to sign the loan documents. You'll need to make sure you are thoroughly aware of any penalties the bank will impose on late or missed loan payments. Avoid these penalties at all costs as they'll just drive your bottom line skywards.

How to Get a Loan for an ATV

Introduction

An ATV can be a fun piece of equipment to ride. Getting a loan for an ATV can be more difficult than loans for cars or a college education, but there are several different ways to obtain loans. A good credit score can offer more financing options. If loans are difficult to obtain, save up the cash and purchase an affordable ATV. Read on to learn more.

Instructions

Difficulty: Moderate

Steps

1

Step One

Inquire about dealer financing if the ATV is to be purchased from a dealer. Examine the monthly payment amount, the financing rate and the term of the the loan.

2

Step Two

Contact local banks, and inquire about interest rate, monthly payments and loan length.

3

Step Three

Search on the Internet for ATV loans. Compare the interest rate, monthly payment and loan length with other loan sources.

4

Step Four

Compare all of the loan sources and determine which one is the best loan by comparing interest rates, loan payment length and monthly payment amount. Prioritize the loans in order of preference.

5

Step Five

Apply for the chosen loan by filling out the required paperwork. You'll need proof of purchase and/or title information on the ATV, proof of insurance, income verification, credit approval and driver's license information.

6

Step Six

Include a large down payment to reduce the size and cost of the loan. If a loan is difficult to obtain, another option is to save up cash to purchase the ATV. Cash may take longer to collect, but there are no monthly payments to deal with.

7

Step Seven

Ride off and enjoy the ATV.

Tips & Warnings

• Save up more money for a down payment so you don't have to borrow as much money.
• Check to make sure there are no pre-payment penalties for early loan pay off.
• Applying for multiple loans could have a negative affect on your credit score.

How to Get a Loan for a Computer

Introduction

Owning a personal computer is almost as important as owning a telephone or a vehicle. In order to effectively communicate and have access to all of the information on the web, it is becoming imperative that most families and individuals possess one. Getting a loan for a computer is a fairly easy task since nowadays the prices are better, thus the loan rates are as well. Follow these steps to get a computer loan.

Instructions

Difficulty: Moderate

Steps

1

Step One

Call around to local banks and find out who is offering the lowest interest rate on personal loans. This is the best place to start if you have decent credit.

2

Step Two

Get a secured loan. This means that you put up some form of collateral, such as a certificate of deposit (CD), as guarantee of repayment on the loan. Usually, you will be required to pay the loan back within one or two years at a rate of around 10%.

3

Step Three

Opt for a loan from the company you buy your computer from. Most big name computer companies, Dell, Hewlett Packard and others, offer loan packages to purchasers, even with less than stellar credit.

4

Step Four

Obtain a loan through your college or university. Nowadays, most schools have special loan plans for students to help them with their computer needs. Check online to find out about loan options through your school.

5

Step Five

Choose to go through your credit union to get a personal computer loan. If you belong to a credit union through your job or college, this is a fantastic place to get a competitive rate.

How to get a loan back from relatives and friends

Introduction

We've all been there, you've lent your brother in law money and now you never see him, or you helped your sister out of a bind and now you're having difficulty getting the dinero out of her purse, and yet she has money for a new hat, well here are some handy dandy tips to save the day.

Instructions

Difficulty: Moderately Challenging

Things You'll Need

• courage
• honesty
• love
• a big friend

Steps

1

Step One

Approach the relative gently. Ask them to pay you back the money they owe you.

2

Step Two

If you don't get it yet. Ask them when you can receive the money. If they can't give you a date, ask them when they can start paying you whatever amount they can.

3

Step Three

If you still don't get an answer...and if they can't pay you, or don't want to pay you or are giving you a hard time, ask your parent's or their spouse for help.

4

Step Four

If all else fails..do what I do, ask them if they can help you with some project in the house or in the office..at least in this way they can pay you back without actually having to give you any cash, and you can always reduce the hourly rate so that you actually make out. In fact, as a rule I never lend money to friends or relatives anymore, because then I never see them, I simply employ them to do a job. For example, I had my brother in law do some electrical work for me (he's an electirician) and he also built me a beautiful wood book shelf.

How to Get a Home and Property Disaster Loan

Introduction

The U.S. Small Business Administration (SBA) offers disaster relief for home and property. People living in declared disaster regions are eligible but certain qualifications exist. These particular loans apply to those who own their homes or property or rent. Follow these steps to apply.

Instructions

Difficulty: Moderate

Steps

1

Step One

Find out if the government officially marked your neighborhood a Declared Disaster Area. This information is funneled through the government to your area.

2

Step Two

Contact your personal homeowner's insurance provider for coverage. Any amount they pay is deducted from the total cost of damage to your home or property. The difference is what the SBA looks at.

3

Step Three

Check the current interest rates for the loan. These are 30-year loans up to $200,000 for homes, and $40,000 loans covering personal effects for both owners and renters.

4

Step Four

Determine your ability to repay the loan. This is a credit requirement.

5

Step Five

Look for possible collateral for your loan. The SBA seeks collateral on loans over $10,000 dollars. You aren't disqualified if you lack collateral. The SBA takes your situation into account.

6

Step Six

Know what is eligible and ineligible for a home disaster loan. Second homes, boats, planes or vehicles considered recreational are not covered by the SBA. Limitations are placed on certain items in and around the house, such as antiques and swimming pools.

7

Step Seven

See if you had any SBA loans that you defaulted on. Remember to keep current any terms for insurance from previous loans. If the loan stated you must maintain flood or hazard insurance and you didn't, the SBA sees that as a default. No loan approval when a second disaster occurs.

8

Step Eight

Contact the SBA service center at sba.gov for application and other information. Or contact local officials to begin the process.

How to Get a Guaranteed Personal Loan

Introduction

A guaranteed personal loan can be a good stopgap solution for those times when you need quick cash to cover unexpected expenses and you want to avoid the hassles of a bank loan. With a guaranteed personal loan, you won't have to show proof of your income stream as part of the application process, and your request can be processed relatively quickly.

Instructions

Difficulty: Moderate

Get a Guaranteed Personal Loan

Things You'll Need

• Good credit (recommended)

Steps

1

Step One

Identify situations in which you might need a guaranteed personal loan. If you're a renter suddenly left short near the first of the month, a single parent encountering unexpected child care expenses or a commuter with a broken-down car and no way to fix it, a guaranteed personal loan can help. Avoid borrowing for frivolities like home furnishings and vacations.

2

Step Two

Ask your regular bank for a referral to a reputable guaranteed personal loan lender. Better yet, collect multiple professional opinions and "triangulate." Triangulating is the practice of finding a good lender by dealing only with companies you received multiple referrals to from different sources.

3

Step Three

Expect that your approved loan limit will be relatively low for your first guaranteed loan. Because guaranteed loans are given out with little in the way of collateral or credit checking, lenders protect themselves by capping the amount you're eligible to receive fairly strictly. If you need a guaranteed loan in the future, you'll be able to get more money once you've proven you're good for paying it back. You will also qualify for better loan terms if you have good credit, and people with bad credit may be denied altogether.

4

Step Four

Compare the terms of the loan--like how long you are given to repay it and what penalties apply if you miss payments or default--in addition to interest rates. Always read the fine print of loan contracts closely before you sign them.

5

Step Five

Apply with the loan company that offers you the best terms on the money you need.

6

Step Six

Arrange to get the money deposited directly into your checking or savings account by the lender. Make sure you adhere closely to the repayment terms as stipulated in your loan agreement, or you may be stuck paying extra costs in fees and penalties.

How to Get a Cash Advance

Introduction

Cash advance and payday loans have become big business. As long as someone has money to cover the loans, they can bankroll this business easily. The borrower pays a set fee per hundred dollars borrowed. Cash advance loans get people out of predicaments that happen in between paydays. Then they pay it back within the next 30 days.

Instructions

Difficulty: Easy

Steps

1

Step One

Locate the cash advance site you want to use for the loan.

2

Step Two

Fill out the paperwork. Most paperwork is similar to what you would see in more traditional loans. Add the total amount you want to borrow to the paperwork. The loan manager will add the interest amount and total everything.

3

Step Three

Pull up the cash advance site on the Internet. Print off a Web-based copy of the application (this is an option with most companies). Fill it out, and then fax it back to the lender. You will get an answer within 10 minutes or so.

4

Step Four

Make an appointment to go by the cash advance store and get your money, or just drop by when you get off work and are on the way home.

5

Step Five

Deposit the cash in your bank account automatically. You can do the same with payments (in reverse). If you fill out the paperwork and give them your bank account number and the routing number, they will withdraw your payments on the due date.

6

Step Six

Take care of any paperwork still needed and make note of your due date and payment amounts.

Tips & Warnings

• If you have a website, you can become an affiliate of some of the online cash advance sites. You will make a few dollars every time anyone accesses the site and applies for a loan from your link.
• As with any loan, go into this with your eyes open—the interest rate is extremely high on cash advance loans. A cash advance is a short-term solution.
• You can refinance your loan if you need to, but don't get into the habit. Some people have paid for their original loan many, many times by refinancing over and over.

How to Get a Bad-Credit Personal Loan

Introduction

A bad-credit personal loan is a relatively new offering from financial institutions that recognize that a less-than-perfect credit history doesn't necessarily mean a borrower is likely to default on loan repayment. To secure a bad-credit personal loan, you'll have to have a clearly defined purpose for the money, which will in turn affect the terms of the loan and its repayment.

Instructions

Difficulty: Moderate

Get a Bad-Credit Personal Loan

Things You'll Need

• Credit application
• Supporting documentation (credit report, proof of earnings, notarized list of assets and liabilities)

Steps

1

Step One

Find lenders that offer bad=credit personal loans. First, check with your regular bank. If that doesn't work, head online to see what's available through the many non-traditional financial institutions that have become key players in the personal finance marketplace.

2

Step Two

Identify the reason you're seeking a loan. If you need it for a major purchase, such as a home or a car, remember that you might be better off rebuilding your credit first so you can get a regular loan with terms that are more advantageous. Many people also get bad-credit personal loans for short-term financing for things like home improvements, weddings, honeymoons or to pay down debt.

3

Step Three

Compare the terms of the various loans you're considering very carefully. Look at more than just interest rates and repayment terms. Check carefully for hidden fees, high closing costs and other loopholes designed to increase the amount you'll end up paying back to the lender.

4

Step Four

Meet in person with the lender if you're applying through a bank, or complete your application if you're trying to get a loan through an online or wholesale financial institution. Make sure you know ahead of time what kind of supporting documentation you'll need to show, and bring it with you. Generally, lenders want evidence that you have assets to use as collateral and a steady, secure income stream to ensure you can cover your loan payments.

5

Step Five

Present your supporting documentation to the lender, complete all application materials in full, and do your best to give the impression that you're trying to turn the corner on your bad credit history.

6

Step Six

Review all the loan documents to ensure the terms contained therein are the same as the terms you agreed to. Sign off on the loan if everything looks as it should.

How to Fix Bad Credit

Introduction

It really sucks to be turned down for the basic stuff most other people take for granted like a car loan, apartment lease, credit card approval, cell phone, and so many other things because of a bad credit score. If your credit score is too low and you want to get it changed for whatever reason go to http://www.Credit-report-repair.us

Instructions

Difficulty: Easy

Things You'll Need

• Computer, $500

Steps

1

Step One

First step? Get snagged by an annoying creditor, there are so many good ones, like ohhh buy a house and go into foreclosure, make a late payment on a credit card, or say neglect a car payment, medical bills and a slew of other things you bought on prior credit but have not been able to pay back, then there's child support, what a fun one! There's creditors who say you didn't pay but you did so they up yours on the credit score. Bankruptcy, or another favorite, not paying income taxes, these are just some of the really nice reasons to proceed to step number two.

2

Step Two

Borrow $500 and stick it in your bank account. Just kidding, grab your credit card.

3

Step Three

Next, go find a computer and type in http://www.credit-report-repair.us, sign up and Tadah! You're done. Excellent credit is on it's way.

How to Establish Credit to Get a Loan

Introduction

Your credit history will affect your efforts to get a loan, to take a mortgage, the rate you pay for auto insurance and even your ability to get a job. It takes time, planning and discipline to establish credit. Good credit doesn't happen overnight, but you can make it happen. Follow this simple routine to get you on the right path.

Instructions

Difficulty: Moderate

Steps

1

Step One

Request your credit report from each of the three credit bureau reports. The Free Credit Reporting Act (FCRA) requires the 3 nationwide credit bureaus to provide you with a free copy of your credit report at your request once every 12 months. You may also want to subscribe to a service that monitors your credit reports and gives you unlimited access to the information.

2

Step Two

Review the three credit reports for errors or discrepancies that may adversely affect your credit. Report any problems to the credit bureau and contact the creditor that has issued the disputed information. Contact creditors to resolve delinquencies.

3

Step Three

Create a workable budget and stick to it. Include a regular amount for savings. Fiscal responsibility is the first step to establish good credit. A budget allows you to show that you can manage loan payments or additional financial obligations.

4

Step Four

Visit your bank and set up a credit card with a secured line of credit. Use the card once or twice each billing cycle for small purchases that you would have otherwise paid for in cash. Submit payment in full for those purchases as soon as you receive a statement. The card will be reported to your credit as current, paid on time, and having 100 percent "open to buy," all of which are key factors to establishing credit.

5

Step Five

Ask a parent or trusted family member with a solid credit history to add you as an authorized user on a credit card or revolving charge account. You do not need to use the card or even have it in your possession. Your credit report will reflect the same positive reporting as primary cardholder's.

6

Step Six

Ask a family member or close friend to co-sign on a small loan for you. Be willing to demonstrate how you can afford the payments and how you appreciate the need to repay the loan as agreed. The loan payment history will report to your credit as well the co-signer.

7

Step Seven

Get information about various lenders' standards and requirements for issuing credit. Ask your banker for advice about how you can improve your ability to secure a loan.

Tips & Warnings

• Points are subtracted from your credit score each time you apply for credit. Hold off submitting loan applications until you are confident your request will be approved.
• Beware of "pre-approved" and "pre-selected" credit card offers. Either term simply means that you were mailed the application. These offers will not help you establish credit. You want to build credit, not debt.

How to Co-Sign a Loan

Introduction

Many people —particularly young adults— need a loan but don’t qualify for one. Perhaps you are in the same boat. You might need to borrow money from your bank in order to go to college or university, buy a new car or get a mortgage for a new home—but you either have a bad credit history or insufficient income, or both.

Consider finding someone to co-sign a loan with you. A co-signer, also known as a co-applicant or co-borrower, accepts the responsibility for repaying the debt along with the primary borrower (you). He or she acts kind of like a “guarantee.” If you can’t make the loan payments, your co-signer must.

What are all the steps involved with co-signing a loan? First of all, before going through the steps, ensure you are financially prepared. Using a co-signer does not equal your loan getting paid off for you—unless you want to lower your credit rating even more and possibly harm a trusted relationship.

Instructions

Difficulty: Easy

Steps

1

Step One

Determine exactly how much money you need to borrow for your loan. Don’t overestimate the amount, but make sure it will be enough to cover whatever you need it for. Also, make sure you can afford the loan amount and pay it off in the allotted time.

2

Step Two

Find an appropriate and responsible co-signer. You want someone you know well, that you trust, and who is very reliable. They will also need to have good credit, a relatively high and stable income and be willing to take a risk in co-signing. For most young adults, an appropriate co-signer is a close relative, such as a parent or older sibling.

3

Step Three

Together with your chosen co-signer, fill out all the paperwork required to apply for a loan. You will both need to fill out an application form, as the lender will need to check the co-signer’s credit history and income claims.

4

Step Four

Make sure you both understand all the terms and conditions involved with the loan. For example, consider the loan amount, the length of time to repay it, the monthly payments, and whether the co-signer will need to give collateral.

5

Step Five

Wait for application approval and acceptance from the lender.

6

Step Six

Make your loan payments in full and on time. If you miss a payment, you are not only affecting your credit, but you are also jeopardizing your co-signer’s credit.

7

Step Seven

Always keep your co-signer up to date with the status of your loan repayment and your financial situation. If you know ahead of time you won’t be able to make the next payment in full or on time, tell your co-signer right away so they are prepared.

Tips & Warnings

• Choose a co-signer carefully. Not just anybody will do. Some parents are not financially responsible and would make poor candidates.
• Find out if the loan will ultimately benefit your credit rating and not just the co-signer’s. Some loans are designed to only benefit the co-signer, not the original applicant. Make sure your credit will benefit from all the loan payments you will make.
• Getting a co-signer should only be used as a means to get a loan you would otherwise not qualify for. Be fully prepared to pay off the entire loan yourself.